AFRICAN RAINBOW MINERALS LIMITED - Dealings in Securities

Dealings in Securities

African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
("ARM" or "the Company")

DEALINGS IN SECURITIES

Award and acceptance of conditional shares

In compliance with paragraphs 3.63 to 3.66 of the Listings Requirements of
the JSE Limited ("the Listings Requirements"), we hereby provide the following
information regarding the award to and acceptance of conditional shares by
the undermentioned Executive Directors and Prescribed Officers of the Company,
and the undermentioned Directors of Two Rivers Platinum Proprietary Limited
and ARM Mining Consortium Limited, major subsidiaries of the Company:

Conditional shares
Acceptance date                      20 December 2024
Nature of transaction                Off-market awards and acceptance of
                                     conditional shares in terms of The
                                     African Rainbow Minerals Limited 2018
                                     Conditional Share Plan
Vesting date for settlement          1 December 2027
Class of securities                  Ordinary shares
Extent of interest                   Direct, beneficial


Name               Designation                      Number of       Value of
                                                  conditional          award
                                                      shares*              R

PT Motsepe, Dr     Executive Chairman                 128 400     20 628 744
VP Tobias          Chief Executive Officer            101 618     16 325 948
TTA Mhlanga        Finance Director                    53 809      8 644 954
A Joubert          Prescribed Officer                  54 691      8 786 656
HL Mkatshana       Prescribed Officer                  47 845      7 686 778
MP Schmidt         Prescribed Officer                  79 524     12 776 326
NV Khumalo         Director of Two Rivers              28 651      4 603 070
                   Platinum Proprietary
                   Limited
BR Tshabalala,     Director of ARM Mining              26 719      4 292 675
Dr                 Consortium Limited

* The vesting of the conditional shares is conditional on pre-determined
performance conditions and continued employment by ARM and where applicable,
the reasons for the cessation of such employment.

The calculation of the value of these awards is based upon the volume weighted
average ARM share price for the 20 trading days ended 13 December 2024, which
was R160.66.

The requisite clearances and approvals for this transaction have been obtained
in compliance with the Securities Dealing Policies and Procedures of ARM and
paragraph 3.66 of the Listings Requirements.


Sandton
23 December 2024

Sponsor to ARM:
Investec Bank Limited

Date: 23-12-2024 04:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.